Comparative Market Analysis for Real Estate Investors

Whether you’re in the market to buy or sell real estate, the real estate value will probably be your first concern.

Whether you’re in the market to buy or sell real estate, the real estate value will probably be your first concern. When buying an investment property, you’ll need to check the property’s value before making an offer to make sure the house is fairly priced. Alternatively, one of the first steps when selling a house is to set the right listing price that will draw buyers without missing out on potential profits. There are a number of property valuation methods, but the most common and accurate way to pinpoint house value is to run a thorough comparative market analysis that is prepared by analyzing the prices of similar properties in the area or housing market, following these 5 steps:

 

1.     Gather necessary data on the subject property

2.     Assess the quality of the neighborhood

3.     Search for comparable property listings

4.     Calculate the price per square foot

5.     Adjust the house value for property differences


 

Last Updated: 24.10.2019 12:23:19